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Lam to Lay Off 14% of Work Force
Due to Slumping Equipment Demand

By

Ralph T. King Jr.Staff Reporter of The Wall Street Journal

Updated Feb. 13, 1998 12:01 a.m. ET

FREMONT, Calif. -- Lam Research Corp. said it will lay off about 700 employees, or 14% of its work force, and take a restructuring charge of as much as $85 million due to slumping demand for its semiconductor-manufacturing equipment.

The company said Asia's economic difficulties and depressed prices for DRAM memory chips have crimped its outlook for orders and sales over the next several quarters.